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DAX Slips Into Red As Adidas Warns Of Losses
(RTTNews) - German stocks edged lower on Friday, with uncertainty about further interest-rate hikes by the Federal Reserve and footwear maker Adidas' weak forecast denting sentiment.
The euro struggled to find direction while government bond yields edged higher after the Bundesbank's president, Joachim Nagel, reaffirmed his call for more interest rate increases.
The benchmark DAX was down 83 points, or half a percent, at 15,440 after climbing 0.7 percent in the previous session.
Adidas slumped more than 9 percent as it warned of an operating loss of as much as €700 million in 2023 from the fallout over its dispute with rapper and former partner Ye. PUMA SE shares were down nearly 3 percent.
Healthcare group Fresenius fell 2.3 percent, a day after confirming it was exploring steps to relinquish control of its dialysis subsidiary.
Swiss Market Ends Sharply Lower
European Stocks Close Weak As Trade War Fears Hurt Sentiment
Canadian Market Remains Weak On Tariff Concerns
Bay Street Likely To Open Lower
Pound Falls As U.K. Economy Contracts For Second Straight Month
Wall Street Likely To Open On Weak Note
Pound Falls Against Majors
